TULSA, Okla., April 5, 2016 – Enovation Controls announced today that its President and CEO, Patrick (Pat) W. Cavanagh, will retire July 1, 2016. Cavanagh was named CEO three years ago by its founders, Frank W. Murphy III and Dr. Kennon Guglielmo, who formed Enovation Controls in 2009. Mr. Murphy and Mr. Guglielmo will serve as co-CEOs for Enovation Controls and Cavanagh will continue to serve on its advisory board.
“Pat’s extensive industry expertise put us in a stronger position to capitalize on future business opportunities,” said Mr. Murphy, Executive Chairman of the Board for Enovation Controls. “His global experience was instrumental in growing our international footprint and ensuring we employ consistent, high quality processes at our facilities worldwide. We’re grateful for his leadership.”
Mr. Cavanagh worked with senior management on the strategic realignment of the Enovation Controls’ product groups. The reorganization streamlined operations and enabled Enovation Controls to better meet customers’ needs and take advantage of opportunities in the marketplace. Cavanagh also significantly improved the company’s global manufacturing footprint, continuing the standardization of operations by implementing Lean Six Sigma best practices at its manufacturing facilities and upgrading buildings and equipment to achieve substantial cost savings. Under his leadership, Enovation Controls increased its investment in R&D by 20 percent, enabling the successful launch of new product platforms.
Mr. Cavanagh will continue as President and CEO until July 1 and then transition to Enovation Controls’ advisory board.